Fiserv Misses By Two Cents

After the closing bell, Fiserv (FISV), “a leading global provider of financial services technology solutions,” reported third-quarter earnings of 75 cents per share. That was two cents below estimates. The stock is down in the after-hours market.

“We delivered another quarter of strong financial results in line with our expectation for internal revenue growth acceleration and excellent bottom-line performance,” said Jeffery Yabuki, President and Chief Executive Officer of Fiserv. “We completed the acquisition of the debit payment assets of Elan Financial Services which expands our reach and further enhances our growth profile.”

Fiserv made $2.26 per share for the first nine months of this year. Operating margin dipped to 31.6%, but that’s still quite good.

The company repurchased 5.6 million shares of common stock for $438 million in the third quarter, and 16.6 million shares of common stock for $1.23 billion in the first nine months of 2018.
The company announced a new 30 million share repurchase authorization in the quarter and had 34.9 million remaining shares authorized for repurchase as of September 30, 2018.

Fiserv also raised the lower end of its full-year guidance. The range had been $3.02 to $3.15 per share. Now it’s $3.10 to $3.15 per share. That represents growth of 25% to 27%. That also translates to a Q4 range of 84 to 89 cents per share. Wall Street had been expecting 86 cents per share. This year will be Fiserv’s 33rd year in a row of double-digit earnings growth.

Posted by on October 31st, 2018 at 4:17 pm


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